World oil demand will peak at 104.4 million barrels per day (bpd) in the mid-2030s, up from just below the current 100 million bpd.

It shall be so as new technologies gradually eat into oil use, China’s Unipec said on Monday at the annual Asia Pacific Petroleum Conference (APPEC) in Singapore.

Unipec President Chen Bo said improved energy efficiency and technological changes are keys to the trend.

He also said that the rise of renewables also meant global oil demand growth would slow in coming years and peak at 104.4 million bpd in 2035my noting that in spite of trade disputes between China and the U.S., crude supply was an important new source for Chinese refiners.

He added that “it allows diversification away from Middle East and African crudes, on which China has relied heavily” he said.

Trade war tensions between the United States and China will last just “for the time being, and in the future we’ll be active in this area,” he said.

Chen Bo also said China would reduce Iranian oil imports because of looming U.S. sanctions against the Middle East country due to start in November.

There had not yet been a decision on how big these cuts would be.

http://www.akelicious.net/2018/09/oil-demand-to-peak-at-1044-million-bpd.html

Everyone is drumming it into d ears of whoever cares to listen and reasonable countries and their govts are already taking advantage of it and looking for alternative source of income but our morons in charge are still busy looking for more oil in d North while making noise about diversifying d economy

On the contrary, by 2035, fuel demand will crash thanks to electric cars technology. The above analysis is nothing but a charade to keep down competition in electric car battery manufacturing.

saaron:
On the contrary, by 2035, fuel demand will crash thanks to electric cars technology. The above analysis is nothing but a charade to keep down competition in electric car battery manufacturing.

D report is actually right Wen U consider dat not only fuel is gotten from processing crude oil... If U consider d rate at which demand of Oil have progressed over d years, demand for oil peaking at 4.4% increase in 15yrs is actually a decline.. Remember d report indicates dat figure is wen demand is at its peak so expect demand to b less than dat figure

Nbote:


D report is actually right Wen U consider dat not only fuel is gotten from processing crude oil... If U consider d rate at which demand of Oil have progressed over d years, demand for oil peaking at 4.4% increase in 15yrs is actually a decline.. Remember d report indicates dat figure is wen demand is at its peak so expect demand to b less than dat figure

You're right a 104 million barrels crude oil demand in 15 years from 100 million barrels is actually a decline.
My argument is based on China's secret plan for their automobile industry. China is making huge and silent waves in electric cars manufacturing. For now they will pretend that their growing electric car technology is strictly for local consumption, but that is just a gimmick to downplay their growing automobile technology to avoid stiff competition especially from western countries. Believe me China's biggest goals right now is to become the largest exporters of electric cars in the world within 10 to 20 years.
And it will happen out of the blues just like they did with Huawei.